Why do you trade?

[RachelFX]

Rachel
If there's one thing I have learnt related to trading is to have confidence and unshakeable belief in my convictions. After I used to be swayed away by opinions of 'more experienced' traders, I realized that each one is different and we have to have our own mindset, beliefs, methods, patterns whatever, those that suit our personality. Then stick with it with statistical analysis to see if they are working out or not. Usually like they say the proof is in the pudding and a well kept journal along with statistical log of actual trades versus those that have been back tested will tell us more about us than anyone else on this fourms. Once you have something that works for you then that becomes your goldmine.
I did study a few books on market psychology and self disciplines. AlsoI studied a few books on peak performance and adapted beliefs of successful athletes and traders. AT the end of the day just like sports or success in any other venture, this is a mental game where one valid, back tested pattern is enough to make a living. It's 80% psychological and about 20% mechanical. Let's keep working on our mindsets and we can keep on reaping the reward.
CT

CT
I can certainly relate to being influenced by others views and opinions! Making us second guess ourselves.
A tricky situation to find a balance in, as discussion can also be a positive thing.
Mindset and focus on my trading edge were the keys to unlocking my trading future
Rachel

 

[NVP]

trading is the ultimate game ........thats why i love it ....

 

[James turtle]

Extra Income. I started trading in my spare time as a way to earn extra money on top of my day job. Trading is not the centre of the world for me, it is a part of my life like any other activity.

 

[hatemypips]

For me, trading is a test of my strengths and skills. I like to challenge myself and fulfill it. Each time I set a goal - to make fewer mistakes than yesterday. And it works. I like to monitor my progress. I have a diary where I write down my emotions and feelings.
My goal is to get rid of all the mistakes and make a win-win strategy. To do this, you need to study the market and constantly improve.
I like Forex, this is my hobby, my incentive to improve myself and my skills.
However, I began by coming to the market for quick money. I could not get fast money and I had to stay here for several years. Now I have such a trading strategy and I am satisfied.

At least you don't need to go doctor to mend mental impairments, because self-reflection is the thing they sell you.

 

[scarlet jones]

It supports my primary income. Plus trading is exciting. These days one can’t just depend on one source of income. Hence i trade to make more money through it. Though i always take a moderate risk as more risk could mean losses as well which i can’t afford to make.

 

[bullishindia]

Hello Caesar
Investing in the stock market is a way to make more than just a little extra cash. In fact, with the right approach and the right skills, investing even a little in the stock market can put you on the road to earning millions. Becoming a stock market millionaire isn’t an easy task and it isn’t a feat that will happen overnight. Do not loose hope and try till you succeed.
Follow some rules and you will definitely making money:
1. Focus on Hot Stocks Hitting New Highs
2. You Can Buy and Short Sell
3. Cut Your Losses Quickly
4. Don’t Be Afraid to Take Partial or All Profits
5. Embrace New Technologies
6. Stick With Liquid Stocks
7. Don’t Believe Anything the Stock Says
8. Don’t Diversify and Don’t Use Leverage
9. You Don’t Need to Buy Bottom, Sell Top
10. Always Make a Plan

 

[tomorton]

The over-riding reason for trading should be to make money. Other goals don't take you towards that, the routes required to these can set up self-imposed barriers that divert you away from it.

Nobody is forced to aim for millions from trading, not becoming a millionaire is not failure. But I have come round to thinking that just as risk per trade must be matched by reward per trade, so must trading risk be matched by trading reward. Therefore, as there is a very high probability for any new trader of wiping out their account, this suggests they ought to have a strategy which has at least as high a probability of doubling it in the same period. I would suggest a year but this is demanding for new traders and may to be fair be insufficient for experiential learning. So I would suggest if your new strategy does not make +6% per month most months, stop trading, it just isn't worth it.

 

[coughs]

Freedom of working whenever I want. I don't want to be stuck in an office

 

[Vellfx]

i initially started because i was forced to by one of my friends. just after 1 week into it, i realized this is where i want to be. so i trade because of passion and ofcourse money now.

 

[Hudson Jack]

I treat trading as a way to compliment my present income.

 

[steveday76]

Freedom of working whenever I want. I don't want to be stuck in an office

same here, hate 9-5.

 

[fibo_trader]

From a non emotional view, I dont see any value investing any more time or money into myself.

Your internal demon circuit has just about got you. For him to live, you must die.

Looks to me your statement above is him talking. Put the prick in a choke-hold and whack his ass!

Continue trading!

 

[fibo_trader]

but most importantly, what keeps you from smashing your computer and moving on to literally anything else?


Caesar

your namesake, billybob Thornton

 

[fibo_trader]

 

[fibo_trader]

At first, I really didn’t believe in all this hype about forex. However, to me trading now is a modern alternative to full-time job. Young people will get a chance to earn millions not even having to leave their homes. In this field, it fully depends on you and your skills. Leverage and a wide variety of currency pairs are risky to use for a newbie, but is an instrument of fast profit for professional traders. So, effective Forex trading will be built on the following principles: a trader chooses the most volatile currency pairs, analyzes economic news for particular countries, and makes a decision to trade. It is important that traders could feel the movement of the currencies involved, not only analyze it.

Tell that to these guys

Traders who feel the movement of the currencies involved reside here

 

[awe]

fibo_trader I like the cut of your jib.

 

[fibo_trader]

I trade because it's very interesting. It's hard to imagine that ten years ago it was almost impossible to earn money without leaving home. And now you are absolutely free. The market offers almost unlimited opportunities. Everyone can find something for himself and earn money. Trading is a good source of additional income. I know that for many people trading is the main job. I used to think that trading is only for people with an analytical mind. Now I am sure that everyone can get used to this activity if there is motivation and desire. For me, trading is an opportunity to apply my knowledge and get money. Also, trading helps to become responsible, which has a positive impact on the attitude to the main job or other business.

Well said, Oh wise one but you forgot the most important reason trading is great - we can stick it to the MAN on a level playing field ......... with ease and beat him at his own game. The GAME? Rob banks LEGALLY without guns and therefore no jail time. The best-est part? Can be done from HOME and even have the bank you are robbing SWIFT transfer your winnings to any location worldwide. How sweet is that? That my friend is the true definition of "lafffing all the way to the bank"

Going to rob Bank of America blind - AGAIN ......... this time on the SHORT. Bankruptcy expected in the 2rd of 3 but I will be out before then and collected the loot and buggered off to a foreign country to enjoy the spoils of war.

Yippie Kai Yeh

 

[fibo_trader]

Well said, Oh wise one but you forgot the most important reason trading is great - we can stick it to the MAN on a level playing field ......... with ease and beat him at his own game. The GAME? Rob banks LEGALLY without guns and therefore no jail time. The best-est part? Can be done from HOME and even have the bank you are robbing SWIFT transfer your winnings to any location worldwide. How sweet is that? That my friend is the true definition of "lafffing all the way to the bank"

Going to rob Bank of America blind - AGAIN ......... this time on the SHORT. Bankruptcy expected in the 2rd of 3 but I will be out before then and collected the loot and buggered off to a foreign country to enjoy the spoils of war.

Yippie Kai Yeh


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Oh and for FUN FUN FUN here's a prediction ................ when the Short gets underway, T2W will not find out until much later, way later in the game that the stock is in freefall. And then they will compound matters even further by only play the teeeeesy weensy bear marekt rallies on get this, "2-min. timeframe" - they will totally ignore the gushing river south

 

[manover]

Trading properly helps me to gain the profit. I trade to have more financial stability and of course, to earn and to support the family.
Apart from that, you could say trading helps me in mentality wise - discipline, patience, risk management and money management.